Delaware
Governor Carney Announces Delaware’s General Obligation Bonds Again Earn Triple-A Ratings and Attract Excellent Pricing – State of Delaware News
WILMINGTON, Del. – Governor Carney on Tuesday announced that the State of Delaware has once again received the highest possible AAA/Aaa ratings from the nation’s top rating services.
The State of Delaware received competitive bids on Tuesday for its upcoming sale of $359 million of General Obligation Bonds. The State’s bonds carry the highest possible ratings assigned by the nation’s major rating services – Fitch, Moody’s, KBRA and S&P Global Ratings – contributing to excellent results for the State and Delaware’s taxpayers.
“Delawareans deserve a state government that responsibly manages taxpayer dollars,” said Governor John Carney. “I was proud to work with then-Governor Tom Carper in the 1990s when Delaware first achieved a triple-A rating from the major bond rating agencies. Over the last quarter century — through good times and bad — our General Assembly and Governors worked hard to sustain our commitment to economic growth and responsible financial stewardship. I’m confident this will remain a top priority for Delaware’s leaders.”
Ratings are assigned based on criteria that include the State’s financial performance and management, overall debt load, and approach to long-term issues ranging from financial obligations to economic development trends. The highest ratings, Aaa/AAA, are granted to states that are best managed and prepared to meet debt obligations during periods of recession or fiscal stress. The higher a state’s credit rating, the lower its cost to repay bonds.
“Bond buyers continue to show a strong appetite for investing in Delaware. Despite a significantly higher interest rate environment today than just a couple years ago, today’s bids were very competitive,” said Secretary of Finance Rick Geisenberger. “The State’s total interest costs on its new bonds is 3.51%. That’s an increase of about 40 basis points versus last year’s bonds, consistent with Federal Reserve Policy moves over the last year. State taxpayers also realized $6.1 million in savings by refinancing $77 million of existing debt.”
All three rating reports related to the upcoming sale noted the importance of the State’s responsible budget practices and debt management practices. Fitch stressed the “proactive management and institutionalized protections designed to ensure surplus operations.” S&P’s report commented, “the State limits tax-supported debt…and adheres to clearly defined affordability parameters and rapid amortization.” Moody’s focused their comments on “strong limits on appropriations … while allocating surplus funds to non-recurring projects.” All agencies continue to regard the ratings as “stable” underpinned by the state’s strong reserves and continued economic growth.
“Delaware’s financial condition has never been stronger,” said Treasurer Colleen Davis. “The Delaware Treasury in collaboration with the Cash Management Policy Board continues to monitor strong liquidity and reserves. This lowers the State’s borrowing costs and increases interest income available for critical investments in schools, public safety, and our quality of life.”
Proceeds of the sale will fund a portion of the State’s capital program as well as refund previous bonds to realize debt service savings. Closing on the sale and receipt of bond proceeds is scheduled for May 15, 2024.
Rating reports can be found at the Delaware Department of Finance’s website.
Related Topics: general obligation bonds, triple-A rating
Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.
WILMINGTON, Del. – Governor Carney on Tuesday announced that the State of Delaware has once again received the highest possible AAA/Aaa ratings from the nation’s top rating services.
The State of Delaware received competitive bids on Tuesday for its upcoming sale of $359 million of General Obligation Bonds. The State’s bonds carry the highest possible ratings assigned by the nation’s major rating services – Fitch, Moody’s, KBRA and S&P Global Ratings – contributing to excellent results for the State and Delaware’s taxpayers.
“Delawareans deserve a state government that responsibly manages taxpayer dollars,” said Governor John Carney. “I was proud to work with then-Governor Tom Carper in the 1990s when Delaware first achieved a triple-A rating from the major bond rating agencies. Over the last quarter century — through good times and bad — our General Assembly and Governors worked hard to sustain our commitment to economic growth and responsible financial stewardship. I’m confident this will remain a top priority for Delaware’s leaders.”
Ratings are assigned based on criteria that include the State’s financial performance and management, overall debt load, and approach to long-term issues ranging from financial obligations to economic development trends. The highest ratings, Aaa/AAA, are granted to states that are best managed and prepared to meet debt obligations during periods of recession or fiscal stress. The higher a state’s credit rating, the lower its cost to repay bonds.
“Bond buyers continue to show a strong appetite for investing in Delaware. Despite a significantly higher interest rate environment today than just a couple years ago, today’s bids were very competitive,” said Secretary of Finance Rick Geisenberger. “The State’s total interest costs on its new bonds is 3.51%. That’s an increase of about 40 basis points versus last year’s bonds, consistent with Federal Reserve Policy moves over the last year. State taxpayers also realized $6.1 million in savings by refinancing $77 million of existing debt.”
All three rating reports related to the upcoming sale noted the importance of the State’s responsible budget practices and debt management practices. Fitch stressed the “proactive management and institutionalized protections designed to ensure surplus operations.” S&P’s report commented, “the State limits tax-supported debt…and adheres to clearly defined affordability parameters and rapid amortization.” Moody’s focused their comments on “strong limits on appropriations … while allocating surplus funds to non-recurring projects.” All agencies continue to regard the ratings as “stable” underpinned by the state’s strong reserves and continued economic growth.
“Delaware’s financial condition has never been stronger,” said Treasurer Colleen Davis. “The Delaware Treasury in collaboration with the Cash Management Policy Board continues to monitor strong liquidity and reserves. This lowers the State’s borrowing costs and increases interest income available for critical investments in schools, public safety, and our quality of life.”
Proceeds of the sale will fund a portion of the State’s capital program as well as refund previous bonds to realize debt service savings. Closing on the sale and receipt of bond proceeds is scheduled for May 15, 2024.
Rating reports can be found at the Delaware Department of Finance’s website.
Related Topics: general obligation bonds, triple-A rating
Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.
Here you can subscribe to future news updates.
BOWERS BEACH, Del. – Delaware State Police say a body was found near Bowers Beach on Tuesday.
Around 12:40 p.m. on April 21, Delaware State Police, Delaware Natural Resources Police and local fire companies responded to the Delaware Bay, about a mile offshore from the Bowers Beach area after commercial watermen discovered an unknown deceased man in the water.
The victim was recovered and turned over to the Office of Forensic Science for identification and to determine the cause of death.
The investigation remains active and on-going.
Top headlines of the week, April 17 2026
Here are some stories you may have missed this week in central Ohio.
The Humane Society of Delaware County has appointed a new leader as the organization’s longtime director moves toward retirement.
The animal rescue group’s board appointed Amanda Wampler as its new CEO, effective May 11, the organization posted on Facebook April 21.
Jana Cassidy, the humane society’s executive director for nearly a decade, is transitioning toward retirement and will now serve as chief operating officer in the near term to ensure a smooth transition.
The post from society Board President Megan Ricci says the board is confident Cassidy’s and Wampler’s experience, dedication and talents will elevate the humane society as it strives to build a new 22,000-square-foot facility that will be a go-to destination for adoption, veterinary care, training, boarding, and grooming.
“HSDC could not be in better hands than with these two extraordinary women,” the post reads.
Wampler is a proven nonprofit executive with experience in animal welfare and a demonstrated ability to help organizations expand and thrive, according to the humane society’s post.
Wampler currently is the national operations director for Siemer Institute, a Columbus-based organization that helps families across the U.S. achieve housing stability and enhance their children’s educational prospects, according to Wampler’s LinkedIn page. She also worked for the Columbus Recreation and Parks Department from 2016 to 2023.
Delaware County and eastern Columbus suburbs reporter Maria DeVito can be reached at mdevito@dispatch.com and @mariadevito13.dispatch.com on Bluesky and @MariaDeVito13 on X
Wednesday, April 22, 2026 5:44AM
WILMINGTON, Del. (WPVI) — Something exciting is taking flight in the hallways of Warner Elementary School in Wilmington.
Delaware Governor Matt Meyer helped celebrate the launch of the state’s first elementary school streaming radio station on Tuesday.
“Flying High with Thunderbird Radio” will provide students with hands-on experience in broadcasting, public speaking, and content creation.
This innovative initiative empowers students to step behind the microphone and lead the way in digital storytelling, communication, and creativity.
Copyright © 2026 WPVI-TV. All Rights Reserved.
-
Minneapolis, MN1 minute agoMinneapolis salon mixes rock and roll with haircuts: Inside HiFi Hair and Records
-
Indianapolis, IN7 minutes agoSouth Bend prepares for ‘The Greatest Spectacle in Racing’ at Indianapolis Motor Speedway
-
Pittsburg, PA13 minutes ago50 Leaders Give Their Rx for Pittsburgh Mayor Corey O’Connor, Pt. VII – Pittsburgh Quarterly
-
Augusta, GA19 minutes agoStart your engines: Augusta Tech gets $6.8M grant for new auto institute
-
Washington, D.C25 minutes agoLawton veteran returns from Oklahoma Warriors Honor Flight to Washington
-
Cleveland, OH31 minutes ago’27 DE Munir Lewis Commits to Louisville
-
Austin, TX37 minutes agoCentral Texas aquifers could see slight boost after week of rainfall
-
Alabama43 minutes agoAlabama QB Ty Simpson says faith in Jesus Christ fuels confidence heading into 2026 NFL Draft